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... in today's cover story..... blocked. the merger between us airways and american airlines is stopped short by the government. and....with his wild days behind him, how a punk rock star is helping entrepreneurs sing a new tune. plus...a rollercoaster of a stock. why investors are on high over jcpenney. first business starts now! you're watching first business: financial news, analysis, and today's investment ideas good morning! it's wednesday, august 14th.i'm angela miles. in today's first look: stocks on the rise..for the second session in a row-- apple shares headed higher on word billionaire carl ichan has a large stake in the company. the rest of the market rallied as well on comments from a fed president the economy is still to uneven to end the fed's bond buying program. gold gave up $13 dollars and oil pushed up 40 cents.a seaworld nose dive.the stock fell 12% to $32 dollars on disappointment from it's first earnings report since it's ipo in april. the company missed on revenue and reduced its outlook because of lower attedance at its theme parks.and bp is suing the government.the
in oakland telling us where things stand right now. jana. >> reporter: board members went up to the second floor meeting room for the open session part, w allowed in for that portion and i did speak with one source who tells me that negotiations are progressing and they have made some significant process. they still do not have a deal. now, we were there when the meeting started about 6:20 this evening. about 6 union members got up along with the atu president to address the board before they went in closing session. there is not much time before the deadline at midnight. she and the workers are hopeful that they can still reach a deal and avoid strike. if there is no deal by midnight then the workers, there is about 1600 transit workers with the atu who plans to walk off their job. they'll call a strike if there is a significant number of items that's taken off the table. the big sticking point here is the workers pay 10% towards healthcare, they pay nothing now. more than 180, 000 daily riders and many of them don't have cars and the actransit spokesman says there is no time to order a p
joins us this morning. good morning lincoln. > >good morning. > >the nasdaq notched higher yesterday. will there be follow through today or will it be a selloff? > >it looks like of the three major markets it's the most perky as we've gone through the august doldrums. technology is still a very growth oriented part of this market and investors are looking for that growth portion of the market at this stage of the game. so that market itself finds a bid. > >you see reasons for that to rally. what about gold? there's been a rally in that market as well. > >breaking out of a trading range that its been in for the last six months. pushing all kinds of gold and commodity related instruments down, in particular, the gdx---the gold miners now breaking above 1300 for the first time in some while. dragging a lot of those long supressed parts of the market back up with it. > >it's an options expiration week and yet i'm sensing a lot of traders are on vacation this week. > > [laugh not just a lot of traders here in chicago but in new york and as you know most of europe has been on vacation for
roads as people try to get out of town. >>> plus, president obama speaks out about the use of chemical weapons in syria as his justification for a possible missile strike. this is bay area news at 7. >>> i'm heather holmes. this is bay area news at 7. it is the start of a holiday weekend. we are counting down to bay bridge history, bay area history, the grand opening of new eastern span of the bay bridge is three days away. there is a chance they could open it early. just before 5:00 tonight, we received an update from the project spokesman, who says the work is proceeding right on schedule. he says crews completed all the grinding today in both directions. they are about halfway done with paving the west bound lanes and begun striping. east bound paving is complete. >> the focus will be on switching out the lighting in the tunnels from the traditional lights that have been there to led lights. they will continue that work over the next 24 hours. they are also going to wash the inside of the tunnel. >> gordon says the main goals are eefficiency and safety. asked whether it
down its local news sites, called patch. scott shellady of trean group joins us on this monday morning. happy monday morning to you, scott. - good morning. - how critical will the inflation numbers and retail earnings this week be to traders? - it's going to be very critical with the fed's dual mandate. we have to keep an eye on inflation. i don't think we've got inflation. i think we've got disinflation. bernanke mentioned that in his last speech. something to watch going forward - we actually might be in a deflationary cycle, so, keep your eyes glued to the inflation numbers. - china plays were popular last week with people buying the metals because of some growth in china. what will be your play this week? what do you see happening here? - i tell you what, i think you should stay away from china. china leads us in manufacturing. only one thing - their economic numbers. really, them in manufacturing - everything else, just by a hair. so be careful about china. at the end of last quarter, three of their largest banks shut down their atms over the weekend. you couldn't take any money o
the treasury is finding a home. it's getting used to tapering, the expectations of tapering and at some point we're going to find a home somewhere between 2 1/2 and 3% > >larry, thanks as always. have a good one. > >you're welcome. the plunge in india's currency has become a free-fall. the rupee, in case you've forgotten from "slumdog millionaire" has lost 15% of its value against the dollar since may.our cover story dives in and tries to catch up with the cause of it all. it now takes more than 63 rupees to match a u-s dollar. three months ago, it was 53. headlines ask: will the slide continue?it's got some half-joking that the currency's new symbol includes a slash across its throat. but it may also be the global impact of the federal reserve. "what's going on is the u.s. since we are the largest economy, as we go, other countries often go." as the federal reserve bought bonds, keeping interest rates low in the u-s, a lot of investors took their money to the international bond market. instead of 2% interest on u-s treasuries, you could get 5% in indonesian bonds and 7% in indian bonds. now
for students in oakland, a few are dealing more than just a first day. jay hahn hernandez is showing us of the shooting at one elementary school. >> but, yesterday two blocks away, of 1044th street, along with the mother and two girls were grazed by bullets. a neighbor tells us that the woman is pregnant. the shooter opened fire around 2:30 in the afternoon. they got caught in the cross fire. no one was seriously hurt. it is these type of situation, you have to deal with because the students are affected by the violence of the street >> many are dealing with things that other children don't have to deal in other places so i think we try the make school as safe and supportive as we can. >> when you come inside our campus, you will see that students are learning, it is a safe environment, it is a very carrying environment but outside of the school that's not always the case. >> reporter: back on the street, we spoke to one woman who's moving after 40 years in this neighborhood. police shows with bullets rick shated off her home yesterday. >> oakland police would not comment on camera toda
tell us about 50 homes are under evacuation orders. the fire reported at 3:40 this afternoon burning along interstate 80. the flames jumped and spread to marie gold drive where the fire started to damage homes. and that prompted the highway patrol to call alerts with eastbound traffic slowing more miles. let's go to ken wayne live in fairfield with new information. >> reporter: we are outside fairfield high school which is turning into a command center and evacuation center for residents that's affected by the fire. you can see the video of how big the fire is. the flames have been knocked out, there is still smoke coming from the scene, it is now 70% contained and joining me now is sergeant blank from the fairfield department, what is the status of the fire now, most of it is out. >> the currently it is about 70% contained and they'll be there all night and making sure that it will not clear up again. >> correct. >> we have a lot of fires burning across california right now, do fire departments have resources to put the fire out, they're stretched so thin. was there enough to get a
really feel badly for this family next to us. they've been my neighbors for a long time. >> reporter: the family who lost this home tell me they'll be staying with relatives, grateful nobody lost their life. this woman was evacuated, but convinced firefighters to go back to the apartment to rescue the puppies. >> my kids are the most important, but i can't leave my animals behind. >> reporter: firefighters tell me they will remain here in the neighborhood for the night to keep an eye on hot spots. ktvu channel 2 news. >> our team coverage begins with ken who is live with what we have learned about the cause of the fire. >> reporter: streets are still closed here. fire officials say they know where the fire started, but they admit they may never know exactly how it started. it was called in at 3:39 this afternoon, a fire burning along the shoulder of the eastbound lanes of interstate 80 when there was a cigarette or a spark from a vehicle or something else, but nothing has been determined. it was a challenge for firefighters. >> it's extremely hard and moves extremely fast. you lit
" at the box office. michael gurka of chicago-based spectrum asset management is with us this morning. good morning, michael. i'm wondering what you're thinking about the trading volumes out there. we've hit some lows this week. - yes, actually it was rather impressive yesterday to start seeing the market give back a little after we put in those all-time highs last week. and in particular, there were a couple of things that happened in the market that show that we're getting some - not even referenced as a healthy correction - but certain components of the market that we expect to fall in place that are, and that is the way that the 10-year treasury is trading inversely to the stock market, and in particular, also, the commodities complex. you're starting to see some of this easing off of prices in precious metals, and, of course, in oil, and they're all coordinating themselves, i think, very well with the u.s. dollar. so, to put it first, it's the equities coming off those highs, and i think that that is actually anticipated, but i would not look for that to be prolonged, at least just yet
swimming and looking forward to start 4th grade. the dog owner puts a sign outside, please don't bother us. hunter's mom thinks that it does attack before once the dog is euthanize. >> knowing that you have these dogs and you don't do anything about it. >> reporter: antioch's police says hunter's friend did try to pull the pitbulls off and received bites on his arm but it looks like he's okay. hunter is expected to have another surgery on wednesday and friends and family are trying to raise money to help the family. ktvu channel 2 news. >>> the ambassador nor's office says it is now waiting on confirmation of the victim's identity. the body was found on friday for the search of sandra coke. on the day she disappeared she was seen with randy alana with a long criminal history. coke and alana dated 20 years ago. alana behind bars tonight, he was arrested last week on a parole violation. officers found the bus about 11:00 last night on interstate 280. the passengers still strapped in the seat belt was dead. officers could not driver but did spot a man walking near by. >>> a seasons teen tell
is affecting u.s. crops. you're watching first business: financial news, analysis, and today's investment ideas good morning! it's wednesday, august 28. i'm angela miles. in today's first look: the market in crisis mode over syria. the volitility index raced up 12%.. as fear and anxiety strike stocks. the dow plunged in a triple digit fall. the nasdaq had its worst point drop of the year.. and the s&p broke through technical support. gold futures pushed up $23 and oil spiked close to $109 dollars per barrel. jcp posted a record trading day with near 100million shares changing hands. it follows a report-- activist investor bill ackman sold his entire stake the retailer. the stock closed down 18 cents around $13.00. and walgreen is accused of overcharging customers and using false advertising. the lawsuit was filed yesteray by the attornery general of missouri. walgreen will fight the charges. for more on the market reaction to syria, larry shover of sfg alternatives joins us. good morning larry. what is the market telling us about the situation. > >the market is saying they don't know what
and u.s. airways are gearing up for a courtroom battle to prove the merging of the airlines won't hurt consumers. the government is blocking the deal with a lawsuit. todd horwitz joins us now, he's with average joe options. good morning and there has been some selling in this market my friend. > >good morning angie. yes there has been some selling. very muted. if you take a look at the bigger picture we're really range bound between 1680 in the s &p on the downside and 1700 on the upside. and in the last nine days, we have not violated either side of that. so, although it feels busy we are lacking volume and volatility. yesterday was a little bit of a selloff but it certainly didn't get carried away, it certainly wasn't done on any real volume or any real panic. > >and you're my bear on the show so that sounds like a mild situation to me. moving into inflation---some inflation numbers came out yesterday. we also heard from the fed president saying that we might see some runaway inflation in the distant future perhaps. what do you think? there was a bit of a move in gold yesterday. > >g
....deconstructing the latest manufacturing data.... plus.... trump under exam-- a u.s. attorney gives "the donald" failing grades for his business school. and...worried about the stock market? one money manager recommends--a cup of coffee. first business starts now! you're watching first business: financial news, analysis, and today's investment ideas good morning! it's tuesday, august 27th. i'm angela miles. in today's first look:market moving comments... stocks fell yesterday on ramped up rhetoric from secretary of state john kerry calling syria's actions inexcusable following a chemical attack. also-- treasury secretary jack lew says the u.s.government will hit the debt ceiling by mid october unless congress votes to increase the limit by the end of the session the dow fell below 15,000 --losing 65 points, the nasdaq was unchanged and s&p dropped 7. gold crossed the 1,400 dollar mark and oil is trading around 1-0-6. jc penney's acking stock.shares fell monday on word hedge fund manageer bill act-man is selling 39 million shares. he's the single largest share holder in jcp. tony harris of performance t
escorted us through the construction zone. near the tunnel, special trucks applied a final protective coating to the roadway but connection to the new bridge has not been completed. >> these columns of where a permanent onramp from yerba buena island to the new span will be built. but the most critical work is moving forward. asphalt trucks coming from pleasanton has awaited moving ahead as scheduled. >> they're averaging 37 minutes from their plant to the construction site. >> reporter: back out here live here's another live look at the work that's going on. appears to be some surveying going on before they do some additional paving leading back to the toll plaza. managers aren't able to say that they are ahead of schedule but they do say they always leave room for error during big construction projects like these. it's still possible that the new bay bridge could be open for business as early as late monday. eric rasmussen. >>> the new bay bridge span has been years in the making and progress has sometimes seemed to move at a snail's pace. but caltrans gave us this sped up view. >>
tonight and many of the crews is in the area. john is live now and he tells us of the local fire department for the rim fire trying to remain the fire protection at home. >> reporter: the fi stretched thin because of the rim fire, officials say it is still ready. >> but, two others are getting dirty right now near yosemite. >> it is been a matter of time for that to explode and that has happened before. >> nine people were out of town and eight were in the rim fire. >> i am not going to home because we need the staff and cover your district which is your top priority and so the guys have been here for four or five six days. >> it can be tiring because of the emotional string of the job. >> today twice as long as normal to help covering and battling for weeks >> we are surrounded for danger here. >> we are concerned and to know that these firefighters are at other places are not very comforting. >> san francisco sent a 22 person strike team to the fire line this morning. >> safety, safety, guys. the guys who have been up there and paying attention on the web, they have seen fire c
the day off. in today's first look: most u.s. stocks fell on word that the fed is closer to curbing quantitative easing. the dollar dipped slightly, but the nasdaq gained. the dow finished the day down 46 points, s&p down 3, and the nasdaq up 3 points. gold dropped slightly, but stayed above $1300. the washington post is being sold to jeff bezos, founder of amazon.com, for $250 million. the deal includes all of the post's newspaper and media assets except slate and foreign policy. american eagle nose dived 16% after the teen clothing retailer cuts its second-quarter outlook in half. abercrombie & fitch also fell. better times in july from 16 non-manufacturing industries in the u.s. - everything from arts and entertainment to retail, transportation and warehousing. glen schultz of performance trust joins us to help sort it all out. hi there, glen. - hi, how are you? - i'm doing all right, and i'd like to know, the rate for the non-manufacturing sector seems to be accelerating. how is this happening if job growth was just 162,000? - one of the things that we saw at the beginning of th
. >> reporter: that server came up to us and said she wanted to talk to us about it because she opportunity want the robbers get away with it. 20-year-old amanda says the restaurant had just closed saturday evening when two men burst into the back office where she, her manager and a chef had the days receipts out. >> they kept saying, give me the money, where is the safe. we said, here is the money, the safe is open. >> there were guns pointed at our heads. >> we're asking the public to help us out with this. possibly identifying. >> reporter: walnut creek police showeds us police video. this suv leaving and another possibly the same vehicle from a different angle. >> the vehicle involved we believe is a light colored suv. there's a roof rack on top of it that stand out a little bit. we're looking for any information that anyone might have of the suspects involved in this. >> reporter: it's a reminder for merchants be careful at closing. >> when you have large amounts of min changing hands at night. it's a window of opportunity for those who want to take it. >> do you think that downtown is stil
should rely on test. >> we use science to determine the criteria for tainted blood or not and so it's very important that we look at behavior and using science rather than a discriminatory policy >> reporter: the red cross has been on the record as advocate for changing the policy. >> there are many donors who are low risk and could be valuable donors. >> the mayor says they're still in need for people to donate and they hope the fda will change its policies. >> reporting live, ktvu channel 2 news. >>> a man is behind bars in connection with an attack in castro district. >> we have surveillance video here. it shows an assault on a robbery victim. 23-year-old porter baylor of oakland is under arrest. >> police say he's the man seen kicking the female victim. >> the assault took place after a gay pride street party. >> despite arrests, people say they do not feel safe. >> more street lighting. nobody's out walking. >> residents are meeting tonight to discuss the problem at a public safety forum. >>> oakland is moving forward with a real time surveillance center despite objections from
this wednesday. our top story at 7:00 louis live at the scene to tell us about this. >> reporter: just about 90 minutes ago after negotiations session early this afternoon as well as over the weekend, they hope to keep service going for more than 180, 000 daily riders on ac transit. delivering formal notice of the ac transit noon board meeting. that walk out can happen as early as 12:01 on wednesday morning >> we are streel serious of getting a contract. >> reporter: riders say they're frustrated. >> the bart went on triek and that through a lot of people off like my friends work in san francisco and ac transit is people's live line. >> it is rough getting it together on such a short notice. >> i take two busses just to get to school everyday. if the strike are in effect, i have no way to go to school. >> i don't know why it is coming to at this point. we are close to particularly regarding to wages. the sticking point of course is on health and welfare payments to where their premiums. >> the unions say the last raise workers got was four years ago. >> ac transit is taking the decision of bein
're letting us down. you know. they're leaving us stranded. >> the alameda contra costa district carries 1,100 passengers a day. >> we're a little more than 1% apart. the sticking point is on health and welfare patients to their premiums. currently we're asking them to pay 10% like all the other employees do. >> reporter: union workers tell us they haven't had a strike in 28 years and they're planning to work through tomorrow night to avoid a strike on wednesday morning. now reporting live, jana katsuyama, ktvu news. >>> and now to the b.a.r.t. labor dispute and a hearing set for wednesday morning. at that time b.a.r.t. and its unions are scheduled to line out their differences before governor brown. he will decide whether to impose a cooling off period for up to 60 days. a spokeswoman for b.a.r.t. said they asked the governor to intervene. the union said they're disappointed that it's come to this. >> we don't need cooling off, we don't need an investigation. we need b.a.r.t. to do this right. >> reporter: the unions and bart will present their negotiation. wednesday's hearing is open to
>>> the sooner, the better, that's what transportation officials are telling us tonight about plans to fast track the opening of the eastern span of the bay bridge. frank somerville has the night off. >> i'm julie haener. the official decision comes tomorrow. the new eastern span opening on september 3. ktvu's noel walker is live now. >> reporter: that five day closure could happens a soon as two weeks from tonight, if they decide to go with the labor day opening. you see that v in the road. it's where the old and new spans meet. it will look completely different, whenever the new span opens. if the new bay bridge span was your new house, you would be planning moving day now. about up through tuesday, 5:00 a.m. >> reporter: the work flow charts are set. all we need is a date. like most new construction, the new bridge move in date is a new target. >> the old date was labor day weekend. they need to decide. >> reporter: while most roads point to labor day weekend, that decision will be made tomorrow morning. tonight, we narrow down the timing. >> no matter what weekend we do close at
with us this photo of a father of 6 children, we spoke to a neighbor who says he's worry for his family. >> everyday something is going on down there, streets blocked off and taped off. you think downtown is safer because the police department is down here and the city hall is down here. >> it was not safe this afternoon, witnesses are too scared to go onto tell us and someone saw the ax as the weapon before he was shot and killed. >> others in the neighborhood are upset to see. >> believe me you are going to get caught and if you don't get caught, you are going to live with this for the rest of your life. >> reporter: family starts to gather around here and they continue to keep candles burning tonight, police say they have not made any arrest, live ktvu channel 2 news >>> marin's sheriff's deputy were called to find the living room covered in blood. she's identified tonight as 44a . u.s. park police spotted him getting off th of the bus. they say he was armed with the knif covered in blood. 22-year-old aldana is hospitalized and authorities say he will face a murder charge. >>> the c
on their to do list. we have team coverage beginning with debra. she is live at the toll plaza to show us the flurry of activity going on. >> reporter: frank, it's so busy, they could turn on the metering lights here. the white pile johns were just installed. they are working on paving and striping the westbound approach to the toll plaza. this is another notch in the timeline which cal-tran said is right on schedule. it's the rare day you can cruise toward the city with the bay bridge this empty. the only traffic now is construction and media care vans. >> a tremendous amount of excitement. everyone is feeling very confident. we are on track. >> reporter: on track demolishing thousand feet of the old upper deck, looking east, you can see is crumbling. by this time tomorrow, a crane will be ready to replace it with the sections of pedestrian and bypass. >> a straight shot in. 50-miles an hour from one end of the bridge to the other. out with the old means no more braking for the dreaded s turn. >> you won't have to slow down going into the tunnel or coming out of the tunnel. >> >> reporte
was last seen with sandra coke the. we go to eric rasmussen. >> reporter: police tell us they will be searching by land and by water. this could go on all night long. we have detectives out here. search and rescue teams even members of the fbi. police confirmed a man sandra coke once dated is a person of interest. he is in custody but they have not said if he's the one that gave them the information that led them here tonight. even though it's after dark. police say they launched this search as soon as they learned this might be where they could find sandra coke. the 50-year-old woman from oakland as been missing since sunday evening. >> we're still treating this as a missing person we're also looking at this from an angle if there is foul play involved. >> reporter: police also confirmed they've identified 56- year-old randy alana as a person of interest. alana who has prior convictions of kidnap and rape was picked up a few days ago. he had recently contacted alana. tonight police revealed alana had been seen with coke the night of the disappearance. >> i can't share wi
. we get the latest from ken wayne. he's been on the frontlines for two days now, and joins us from the command center along highway 120, which is still closed tonight between groveland and yosemite. >> reporter: there are now 1,080 firefighters from as far away as san diego and bend, oregon, working this fire. the day side crews are getting a meal. night side crews are out there on the fire lines, hoping to contain this fire, which is now just 5% contained. meantime, about 8 miles away, an advisory evacuation is underway in pine mountain lake. sheriffs deputies are going door-to-door, telling residents they should leave their homes, because the fire is getting dangerously close. deputies get their name so they'll know who to look for if the fire moves in. the fire's movement today proved to be very unpredictable. there were some tense moments at the fire command post, as heavy black smoke began billowing from the forest at the camp's edge. soon large flames appeared, and it became clear the fire was heading straight for the camp, housing dozens of support vehicles and personnel. >>
of the road way. led use half of the energy. we'll have a live report from the bridge deck tonight on the 10:00 news. >>> anybody is going to feel what i am feeling until they go through it. it is my son and grandson. stop the violence, put them down, put the guns down. >> baby drew jackson and his 22 22-year-old father were shot to death, six days ago. oakland police attend the conference and encourage witnesses to come forward. it is added $20, 000 to the reward. >>> a pedestrian was struck and killed at the construction at san jose college. details of how it happened and the concerns raised. >> reporter: this area of the fine arts building have been blocked off of red and yellow tapes. at 11:00 a.m. noontime a pedestrian was struck in this front loader. rushed to medical center and apparently died from the injuries. investigators are not giving out information but sources tell me the victim was a female pedestrian. officials did not say if she was a student or in coming student employee. the full time employee was hoping to install an under ground water vowel. >> it was drilled under the
a stethoscope, even had an id badge. new details tonight from amber lee. she tells us a facebook posting led to the woman's arrest. amber? >> reporter: julie, the sheriff's department tells us, the woman accused of impersonating the nurse was arrested at this parking lot behind valley medical center. investigators are still looking at why she did it, and for how long. >> 29-year-old crystal cook of felton is facing two charges of impersonating a county employee, and possessing a fake hospital id card. because the charges are misdemeanors, she was released not long after she was arrested friday. >> looks very familiar to me. >> we showed the hospital worker this photo of cook. >> when was the last time you saw her? >> i don't know exactly the time, but the face is very familiar. >> several times? >> i have seen this face. you see the face, and you remember. that's what i think i have seen her face. >> reporter: valley medical center says an employee with cal star, an air ambulance service alerted the hospital thursday afternoon, after seeing cook's postings on facebook, claiming to be a hospi
be with hannah anderson and that he may be headed to canada or texas. >>> the lessons learned from this first use of the notification system. >>> developing news now, take a look at our count down clock we are now less than two hours until a possible strike by ac transit bus driver. as the clock continues to tick down toward a midnight deadline, we've learned that the two sides of this ac transit dispute actually aren't that far apart. ktvu's jana katsuyama is live at the negotiation site in oakland with new information about the tenor of the talks, jana. >> reporter: that's right and frank i talked to a source who tells me that right now things are looking very positive and there is a feeling upstairs in the boardroom that they might actually be able to reach a deal tonight. now we were up there when they went into closed session at 6:30. they have been in there ever since. they say there's been significant progress since this morning but the bottom line is there's still no deal. for bus drivers it's a stressful time. not knowing whether a strike at midnight might leave them stranded tomorrow. >
delivering a strong earnings forecast. ben lichtenstein of tradersaudio.com joins us now for trader talk. good morning. will we continue to feel the syria effect in the market today? > >i think so. if you look at yesterday's activity, the market tried to get a bit of a bid going throughout the day session trade. but around the middle of the day, we started to sell off a bit---unable to get into new low prints. don't get me wrong---it wasn't that weak but just unable to hold the rally if you will but for the most part what i've been noticing in terms of this downside activity that we've been seeing off that 1700 level in the s &p's. just very little rejection of these lower levels. what we have been seeing on that slow steady grind higher was every little bit of a retracement, every pullback was met with strong by side activity and we're just not seeing that right now. i think that's the fear factor at play. > >what about oil? what are the highs here? > >talk about fear factor at play. 112 yesterday---in the overnight leading into yesterday morning's trade. didn't quite get up there durin
cyber threats... rising conflict with syria has u.s. banks on guard. in today's cover story... a staggering amount of cash is flooding the housing market... and...it's a hit! the inspiring story of a group of nuns who are rocking the music industry. plus... the retail risk. why our traders say its a tough time to shop for stocks. first business starts now! you're watching first business: financial news, analysis, and today's investment ideas. good morning! it's friday. august 30th. i'm angela miles. in today's first look: stocks on edge! the situation in syria will serve a back drop to trading today.. yesterday-- the market staged a modest rally as new data shows the economy is growing faster than thought and the labor market is improving as well.the dow, nasdaq and s&p all gained.. gold fell $12 to 1,407. oil down $2.15 to $107. sales force soars - the stock rallied more than 7% after hours on stronger than expected earnings at the software company. and a jump at the pump-- as we head into the the labor day weekend.. gas prices are up 3 cents from a week ago to $3.56
police if it looks suspicious. >> they used duct tape to bind them and their child and ransacked the house. you can always call pg and e & e if a repairman arrives. >>> a bicyclist is in the hospital tonight. a 1995 toyota camry has front damage. >>> the first to name boeing and asiana, they claim they rushed pilots through training and that boeing could have prevented the crash with a low- speewarning system. they want low-speed warnings in all cockpits. congresswoman spears says it could take several years. a proposal is expected next month after lawmakers return from summer recess. >>> the board of inquiry has not revealed findings. we could still see a strick or governor brown couldrecommend a cooling off period. riders are faced with uncertainty. opinions are mixed about which side to support. >> reporter: at bart this afternoon we found commuters holding opposing opinions. >> they are asking for too much. they are asking for too much. they don't have any connection with the passengers like bus drivers do. >> reporter: unions say the two sides are $56 million apart and bart
from egypt with one grieving family member speaking to us and sharing his story tonight. >> these are people like us who's lives were cut short, suddenly. >> reporter: dozens of people with their own ties of egypt held candles and wore white in a way to honor those killed. >> that is my brother-in-law. >> reporter: he says his brother-in-law, 37-year-old man is among the hundreds killed in cairo yesterday. >> we were told he was shot yesterday by someone within the field hospital. we could not get ahold of him this morning when his id went on tv and people started saying this is an unclaimed body. this is his id. >> we showed him a photo and photos of his brother-in-law and two young children. tonight they prayed as the sun went down and lit candles and american and egyptian flags and they say they usually stay away from egyptian politics but they had to be herein cluing this gentleman who is about to start the first year here at the university. >> if i agree with their poe decision is important to honor the fact that they protested -- -- i don't agree with their posit
there is still time to get a deal done. heather holmes tells us why tomorrow is shaping up to be a crucial day. >> reporter: frank, negotiators for one of the unions remained here upstairs with b.a.r.t. until just about a half hour ago, where representative the for the second union involved atu, they left about 6:30 tonight. chief negotiators did not sound very optimistic when they walked out. saying there had been progress on the smaller issues, but no progress at all on those three big economic issues. from a crowded evening commute on b.a.r.t., to no b.a.r.t. at all. the bay area braces for the possibility of a second strike. >> we've got four days left to bargain. of course there should be some concern. >> reporter: she said today's talks yielded no results on the major issues at the heart of this dispute. she accused of district of dragging its feet. >> we are waiting for their response. >> reporter: b.a.r.t.'s leading negotiator had limited response to talks about the progress of negotiation. >> you stated a little bit later than yesterday. >> ask the mediator. the mediators are controll
support form cit. mark sebastian of option pit mentoring joins us on this thursday morning. good morning mark. we are now post that fed meeting. did traders get any clues about tapering? - you know, not as much as they would like. in fact, if anything, the fed brought more variables in bringing up inflation this time. i think the only thing the fed really let us know is that the fed is a little less confident in their ability to really keep control of this thing than they thought they were. - we had a surprising number coming in with that adp number: 200,000 jobs added to payrolls in the month of july. what does that mean for the jobs number on friday? - you know, the jobs numbers have been trending up. i think the market wants good but not great so that the fed doesn't have to stop tapering. - let's do some stock talking now. what about visa and mastercard and some of these credit card companies coming in with earnings? - they lost a really obscure court case yesterday, and they got spanked for it. visa had the worst day it's had in over two years. mastercard gave away a 20+ point gain
. and most were drinking budweiser. mark sebastian of option pit mentoring joins us now. let's get down to it. what is happening with this selling spree? what's going on? > >the 10 year is the dog that's wagging the entire market's tail. the 10 year beagn to really sell off yesterday morning and that drove all the markets. it drove gold, the s &p 500. we saw the vix rally as well. all in all an ugly day yesterday. > >what about silver and gold. especially slv and gld were the talk of the town yesterday among commodity traders. > >it was really interesting. part of what happened with the 10 year---besides the taper talk---there's some small underpinnings of inflation. if we get some inflation, that's the one thing that can cause gold and treasuries to really move opposite of each other, which has been not the trend as of late. they've been moving together up until recently. > >today is an options expiration day. what will that bring to the market? > >i think we could see all kinds of crazy stuff. especially if today ends up being like yesterday. if that's the case then look out---things could
. u.s. officials will likely debate "when" to start wrapping up the monthly bond buying program that has been stimulating the economy. fed chair ben bernanke is not attending this year's summit due to a scheduling conflict.his term expires in january. president obama says america's colleges need to be more accountable for the value they provide students, their families and taxpayers. but as our cover story explains---he left open precisely how that value is measured. in buffalo, new york, president obama said rising costs are making college out of reach and a disturbing national trend reflects that---student loan default rates have now climbed above 9%--the highest it's been in 17-years. "bottom line is this, we've got a crisis in college affordability and student debt." so the president proposed the following reforms: first, a federal college value rating that could be tied to federal funding. second, the president wants to better prepare students for the global economy. but some fear that may curtail long-range thinkers in favor of short-term fixers. "we will essentially just
dell's effort to take over the company. scott shellady of trean group joins us on this friday morning, and of course the jobs number is due out today. scott, what do you think we're in for? - well, if you're a taper tiger, you better hope for a big one, because that will supposedly put some pressure on the fed to start tapering in that september-october time frame that most people have been talking about. i think the fed has said over and over they're data-dependant, so i think you're going to have to see something really good to change that unemployment rate from 7.6% to something much healthier. so, i think right now we're going to be around that 200 range, which was the adp number. i think that's fair. but let's just see if that comes through. and then gdp, we're not doing too well there. - what is the stock market, though, telling us about the economy? - the stock market's had a dovish fed speak a couple days ago. yesterday, draghi was also seen as dovish. that's given a boost to the market with "accomodation." then we've had a couple things trickle across the tapes that haven't b
is not in session. some students and campus employees and teachers are on camp us to prepare for the start of classes at the end of the month. >> it is shocking. i can not imagine. there has been a lot of construction going on in this area. >> reporter: catherine said she graduated earlier this year but can can not help wondering about the life lost here. >> the person had a potential future and i remember walking these grounds and everything they experienced what that person was experiencing but it stopped today. >> reporter: the pipeline's coo tells me they will regroup tomorrow to decide when to resume construction here. he wants to pay his respects to the family and offer them a viceit to the site before anything continues here. >>> new video where investigators are working to find the cause of a fire that destroyed several units. firecrews say they aggressively attacked the blaze and doused the outside of the building and the brush surrounding it by water. four apartment units are uninhabitable. nobody was hurt. the 10-year-old anti antiyok boy killed sent us a picture of hunter. th
. he told us he was kidnapped while he was in the store. >> her mother doesn't think police are making progress. >> i know they tried to do what they could do, but it does feel like it is at a standstill. >> more than a dozen investigators are actively working on daphne's case. >> at no time has the investigation been at a standstill, and that's understandable when you're not privy to behind the scenes information. >> the father didn't take part in today's march. >> and some relatives don't buy his story the toddler was taken by a stranger. >> it's kind of obvious everything's not fitting together, as it sounds. >> the whole thing seems kind of fishy. >> on the way here, the family handed out these flyers to people. >> they want to keep daphne's face out there and make sure this case remains a top priority for oakland police. >> her family will continue to march like this every week until these found. >> ktvu channel 2 news. >>> the california supreme court ruling today could be the last stand for opponents of same-sex marriage in our state. >> the court dismissed a legal challenge by
international feel safe after dark. >> at headquarters, chief ngyen told us about operation ceasefire. >> it shows a police mobile command unit near 95th and international, one of three spots in east oakland. >> last night's operation targeted individuals who we've identified who are committing crime throughout the city of oakland. >> oakland's operation accused 8 men of robbery, drug and firearm possession and a girl prostituting herself. >> more pimps are trying to get more women and more money. >> this man didn't want to go on camera. he says the daytime activity has gotten worse. >> pimps are tied to human trafficking and other illegal activity. >> we are learning more and more about how these individual groups are functioning, as far as how they're making money through different robberies, and burglaries. >> including the deaths of independent children, shot and killed with his father last week. >> when our children have been come victims of homicide, it's completely unacceptable. >> there is a way out, however if you choose not to stop engaging in the shooting and homicides, the
-long sailor berkowitz. after an accident in nascar, he said if racers can't use the bay for what it offers, wind, there is a problem. >> the venue is phenomenal, but now to say that we have to limit the wind not to let san francisco do what it's supposed to do is not really taking advantage of san francisco bay. >> reporter: today's second race was postponed. tomorrow spectators can catch the second anded their race and race four will be held on monday. the winner of the series will go on to the america's cup in september. >>> reporting live in san francisco, jade hernandez, ktvu channel 2 news. >>> more details now on the rough summer for america's cup. british sailor andrew simpson died may 9th during training. his team artemis returned for trials. other boats have been damaged, including one owned by the defending champion, oracle usa. >>> and with that, a piece of bay area history became history. as warren hall at cal state east bay was reduced to rubble today in near seconds. the bay area landmark was imploded today because it was seismically unsafe, but for scientists it serveds a l
is warning owners to stop using the tractors immediately. the tractors were sold nationwide from february to july. michael gurka of chicago based spectrum asset management is on the show with us this monday morning. happy monday to you michael. > >thank you. > >we have a lot coming from the fed this week. fed minutes and the big jackson hole meeting with the fed heads. will that hold the market in a pattern today? a holding pattern. > >i don't think it will. actually i think that the anticipation that this week's meeting and a lot of the vernacular is going to add to volatility in the market. and of course we're looking at 10 year treasury yields in particular as they breached 280 and showed us at least that though the growth of the country might be stalling on main street the markets believe that something's alive because we've started to see downward pressure all of last week. and it was reciprocated of course by the way the stocks traded along with that. > >those treasuries are at a high we've not seen since 2011. can this persist? > >i think we will see more of that but to the point t
heard from both sides. she's live in oakland and tells us the talks have now ended for this evening. >> reporter: burning the midnight oil? not. they were done before dark. they put in eight hours, some talks but they still don't see eye to eye. >> my objective is to try to settle the b.a.r.t. contract. >> reporter: b.a.r.t. negotiator not often seen or heard is now the face of this conflict. unions say if they resume their talks monday, it'll be because he put a chill on the entire team. >> they would like to talk more but when he's in the room they've stated they're not free to express theiropinion. >> we're far apart on pensions and we're far apart on medical. >> reporter: far, they got a game plan from them. she proceeded to stand by hawk. >> tom hawk is our negotiator, has been, will be. i don't tell the unions who to hire. they're not telling me who to hire. >> reporter: but she also call it is union great partners. >> they're really great people. i love them and this is a process that happens every four years. i'm sorry that it's disruptive to the bay area. >> that's very nic
of 7, 8%. we really didn't see that yesterday. i'm going to take some off the table. the u.s. worker has not increased their wages, and i think that's their main market, so i'm going to take some of the table in priceline. - short stock? - i would definitely short it right now. - thank you, chris. jc penney reportedly is under pressure to find a new ceo. according to cnbc, hedge fund manager bill ackman wants the jcp board to name a new leader in 30 to 45 days. "i would guess that he's just trying to spike the stock so he can get at least somewhat out of his position. that's what i think he is trying to do, because otherwise, if he was actually trying to fix the company, this is not the way to do it." that was maragret bogenrief of acm partners. the news sent the stock 7% higher yesterday. shares recenly drifted to a year low of $12.50. a penney spokeswoman calls the demand for a new ceo "rumor and specualtion." penney has struggled to win back customers after losing ground under the management of former jcp ceo ron johnson, who came from apple. the retailer's sales plunged 25% aft
look over my shoulder, the flames are burning about a half mile to 3/4 mile away from us. fires generally lay down at night and that has been happening here but every once in a while we'll see what is called torching where individual pine trees or groups of trees will suddenly burst into flames and believe it or not in the middle of all that flame, the orange area that you see on the side of that mountain lies highway 120 and that road of course is closed. we want to show you some pictures from earlier this evening. these photos were shot about an hour ago so the intensity of the flames as they are burning even after the sun went down. as i mentioned fires generally lay down at night. in this case there's still very intense flames burning 60, 80, perhaps 100 feet into the air even after nightfall. there's still about 200 firefighters working right now in the darkness trying to do what they can to bring this fire under control. it has been a very long day and it's bound to be a long night ahead. >> reporter: the flames are burning on both sides of lake road. this is cherry road t
tonight. >> jade hernandez has been following tonight's march. >> she's live at headquarters to tells us more on this month on long negotiating session >> reporter: you can see off in the distance police squad cars and transport vans following the crowd. >> about an ago or so ago we caught up with union negotiators. >> negotiations were supposed to wrap up this afternoon. >> we asked about progress. >> we're going to the rally and you should, too. >> we are rejecting those proposals and we've got another one. >> it's called economic democracy, baby. >> today's planned rally began at 5:00. >> one union negotiator told us this was a community march. >> within the past half-hour we spoke to james spans, the board of directors. >> he says something is terribly wrong if an agreement has been been reach. >> reach. >> it has not yielded the results that everybody would like >> reporter: ago still far apart on a contract, members suggest a peaceful meeting, indicating negotiations will resume tonight. >> about a half-hour ago, the mediator will meet. >> they will give a 72-hour notice tonight. >
the victim told us. man's best friend falling down from the window. no swimming signs go up at the bay area's beach. and what happened there. >>> it is tuesday august 20th i am heather holmes in for gasia. this afternoon a jury in the county found a killer naso guilty of the murder of four women between 1977 and 1974. some of the strongest ef involved roggasch and dna on her pantyhose was a match. >> it is just a waist of life right now, he's taking too many lives. >> the 79-year-old naso has been acting of his own attorney. naso is eligible for the death penalty. >>> a san francisco serviceman could not understand why his dog jumped down the window tonight. turned out that his dog was shot. >> reporter: well, that first red flag went up at the pet hospital. the injuries was not consistent with a 40 foot fall from the 3rd story window. >> from that window all the way up. >> a 40 foot jump from that window. hips popped out of the sockets and pelvis knocked out of place. >> he's been in the hospital right now and that's my guy. >> he assumed that freddy's injuries is from the
francisco. san francisco bay ferry has added more trips to san francisco, but a spokesman told us ridership isn't much higher than a normal weekday. the city was also adding service. commuters we spoke with this morning in almeda said the ferry sure beats sitting in traffic. >>> -- is already underway. 20 minutes ago, news chopper 22 was overhead and you can see how much of the old bridge deck they have removed in just under 24 hour. to facilitate the job, they have the original blueprints and upgrades into is a computer to build a model of how to take it all apart. >> we need the current state because that is what we have to take down. that is what we have to deconstruct. so that is very, very important for us. >> crews are beginning to work at the island and proceeding toward oakland even though much of the steel is old, it will be recycled. much of the visible structure should be gone in the next nine months. it is expected to take three years to remho everything including the foundation. >>> at ktvu.com you will find the latest information at the top of the home page including alternati
monitoring and joins us from oakland with the latest. >> heather, no breakthroughs, but a much better tone. and they are still packing. it's been 12 hours. a longer day than they usually put in. >> reporters eager for an any crumb of news are bound to see the arrival of food, lots of it as a positive sign the two sides in the bart talks are digging in on big issues. >> will be taking a working dinner break. that's all i have. >> is there anything different? anything better? >> everything every day is something different. >> it has been a strident week for both sides. workers giving their strike notice and marching. and bart's boss press her case for new trains, not higher salaries. >> not just about the service today but in the service in the future, in the next 100 years. >> riders are worried about the day to tomorrow. the misery of the shutdown still fresh. >> this is one of the needles. >> and bart janitors, talking about their job. >> clean up needles, urine in the elevator. we come out to try to keep it clean every day, but when the people come through. >> starting salary for them, 4
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